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1. Company Snapshot

1.a. Company Description

Core Molding Technologies, Inc., together with its subsidiaries, operates as a molder of thermoplastic and thermoset structural products.The company offers a range of manufacturing processes that include compression molding of sheet molding compound, resin transfer molding, liquid molding of dicyclopentadiene, spray-up and hand-lay-up, direct long-fiber thermoplastics, and structural foam and structural web injection molding.It serves various markets, including medium and heavy-duty truck, automobile, power sport, construction, agriculture, building products, and other commercial markets in the United States, Mexico, Canada, and internationally.


The company was formerly known as Core Materials Corporation and changed its name to Core Molding Technologies, Inc.in August 2002.Core Molding Technologies, Inc.


was incorporated in 1996 and is headquartered in Columbus, Ohio.

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1.b. Last Insights on CMT

Core Molding Technologies' recent performance was driven by a strong Q4 2024 earnings release, which showcased the company's resilience in the face of industry headwinds. The engineered materials company reported a solid quarter, with revenue growth in the building products and utilities segments. Additionally, the company's backlog remained robust, indicating a healthy demand for its molded structural products. Furthermore, Core Molding's strategic focus on the North American market has enabled it to capitalize on growth opportunities in the transportation and powersports industries.

1.c. Company Highlights

2. Core Molding Technologies' Q3 2025 Earnings: Navigating Challenges and Investing for Growth

Core Molding Technologies reported a revenue of $58.4 million for the third quarter of 2025, a decline of 19.9% year-over-year, primarily attributed to the Volvo transition and decreased demand in the truck industry. Despite the revenue decline, the company maintained a gross margin of 17.4%, within its targeted range of 17% to 19%. Adjusted EBITDA margin stood at 11%, marking a 70 basis point increase from the previous year. The company's net income was $1.9 million, or $0.22 per diluted share, below analyst estimates of $0.4 EPS. For the first nine months of 2025, Core Molding Technologies generated $14.2 million in GAAP cash from operations and $4.9 million in free cash flow.

Publication Date: Nov -23

📋 Highlights
  • Revenue Decline: Q3 2025 revenue fell to $58.4M (-19.9% YoY) due to Volvo transition and truck demand drop.
  • Gross Margin Stability: Maintained 17.4% gross margin (17-19% target) and 11% adjusted EBITDA margin (+70 bps YoY).
  • Growth Initiatives Progress: Power sports sales grew for first time in 8 quarters; UTV skid plate program to add $8M annual revenue.
  • Strategic Investments: $25M Mexico greenfield plant and $2.5M YTD expansion spending; $300M+ revenue target by 2027.
  • Capital Allocation: $4.9M free cash flow, $2M buyback authorization remaining, and $151,584 shares repurchased at $14.80 avg.

Operational Highlights and Growth Initiatives

The company made significant strides in its growth initiatives during the quarter. The power sports segment, a major sales category, achieved its first year-over-year growth in eight quarters. The newly launched UTV skid plate program is expected to contribute approximately $8 million in annual run-rate revenue once fully ramped. Furthermore, Core Molding Technologies partnered with four potential customers for molding trials using its sheet molding compound (SMC) material, with an estimated total addressable market exceeding $200 million. These developments underscore the company's efforts to diversify its revenue streams and capitalize on emerging opportunities.

Investments for Future Growth

Core Molding Technologies continues to invest in strategic initiatives aimed at driving future growth. The company is investing $25 million in a new greenfield facility in Monterrey, Mexico, and has added topcoat paint capabilities to enhance its service offerings. These investments are expected to contribute to the company's goal of achieving over $300 million in total revenue by 2027 and annual product revenue exceeding $325 million within the next two years. As the company scales its operations and leverages its fixed cost base, it is well-positioned to translate top-line growth into bottom-line results.

Valuation and Outlook

With a P/E Ratio of 20.13 and an EV/EBITDA ratio of 7.83, the market appears to be pricing in moderate growth expectations for Core Molding Technologies. The company's return on capital employed stands at 6.5%, and its debt-to-EBITDA ratio remains below 1x, indicating a healthy balance sheet. Analysts estimate revenue growth of 6.7% for the next year. As the company continues to execute on its growth initiatives and optimize its operations, it may be well-positioned to drive long-term value creation for shareholders.

Management's Confidence and Shareholder Returns

Core Molding Technologies has demonstrated its commitment to returning value to shareholders, having repurchased 151,584 shares at an average price of $14.80 year-to-date. With roughly $2 million remaining in its buyback authorization, the company is poised to continue utilizing its capital effectively. As the company navigates the challenges in the truck industry and invests in its growth initiatives, it remains focused on driving incremental sales growth, improving its margin profile, and creating long-term value for shareholders.

3. NewsRoom

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Core Molding Technologies Seems Confident On An Uncertain Turnaround

Nov -07

Source: seekingalpha.com

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Core Molding Technologies to Present and Host 1x1 Meetings at the 17th Annual Southwest IDEAS Investor Conference on November 19, 2025

Nov -05

Source: globenewswire.com

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Core Molding Technologies, Inc. (CMT) Q3 2025 Earnings Call Transcript

Nov -04

Source: seekingalpha.com

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CSE Bulletin: Suspensions - CMT, GAND, SASY

Nov -04

Source: feeds.newsfilecorp.com

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Core Molding Technologies (CMT) Q3 Earnings and Revenues Miss Estimates

Nov -04

Source: zacks.com

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Core Molding Technologies Inc $CMT Shares Sold by Allspring Global Investments Holdings LLC

Oct -23

Source: defenseworld.net

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Core Molding Technologies (CMT) Surges 8.2%: Is This an Indication of Further Gains?

Sep -11

Source: zacks.com

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Applied Therapeutics Reports Second Quarter 2025 Financial Results

Aug -13

Source: globenewswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (4.50%)

6. Segments

Thermoplastic and Thermoset Structural Products

Expected Growth: 4.5%

Growing demand for lightweight and corrosion-resistant materials in automotive, aerospace, and industrial applications drives the growth of Thermoplastic and Thermoset Structural Products. Increasing adoption of sustainable and energy-efficient solutions also contributes to the market expansion.

Tooling

Expected Growth: 4.5%

Growing demand for lightweight materials in automotive and aerospace industries, increasing adoption of composite materials in industrial applications, and advancements in tooling technology are expected to drive the growth of the tooling segment from Core Molding Technologies, Inc.

7. Detailed Products

Fiber-Reinforced Composites

Core Molding Technologies, Inc. offers a range of fiber-reinforced composites, including carbon fiber, glass fiber, and hybrid composites, used in various industries such as aerospace, automotive, and industrial.

Sheet Molding Compounds (SMC)

Core Molding Technologies, Inc. manufactures SMC, a type of composite material used in various applications, including automotive, industrial, and consumer products.

Bulk Molding Compounds (BMC)

Core Molding Technologies, Inc. offers BMC, a type of composite material used in various applications, including automotive, industrial, and consumer products.

Thermoset Composites

Core Molding Technologies, Inc. manufactures thermoset composites, a type of composite material used in various applications, including aerospace, automotive, and industrial.

Tooling and Molds

Core Molding Technologies, Inc. designs and manufactures tooling and molds for the production of composite parts.

8. Core Molding Technologies, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Core Molding Technologies, Inc. is medium due to the availability of alternative materials and manufacturing processes.

Bargaining Power Of Customers

The bargaining power of customers for Core Molding Technologies, Inc. is low due to the company's strong relationships with its customers and the lack of concentration in the industry.

Bargaining Power Of Suppliers

The bargaining power of suppliers for Core Molding Technologies, Inc. is medium due to the presence of multiple suppliers and the company's ability to negotiate prices.

Threat Of New Entrants

The threat of new entrants for Core Molding Technologies, Inc. is low due to the high barriers to entry in the industry, including the need for significant capital investment and technical expertise.

Intensity Of Rivalry

The intensity of rivalry for Core Molding Technologies, Inc. is high due to the presence of several competitors in the industry and the need to constantly innovate and improve products to remain competitive.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 15.23%
Debt Cost 7.06%
Equity Weight 84.77%
Equity Cost 12.25%
WACC 11.46%
Leverage 17.97%

11. Quality Control: Core Molding Technologies, Inc. passed 7 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Hudson Technologies

A-Score: 5.3/10

Value: 5.3

Growth: 7.6

Quality: 6.5

Yield: 0.0

Momentum: 8.0

Volatility: 4.7

1-Year Total Return ->

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Stock-Card
Ecovys

A-Score: 5.3/10

Value: 7.3

Growth: 3.3

Quality: 2.6

Yield: 5.0

Momentum: 8.0

Volatility: 5.3

1-Year Total Return ->

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Stock-Card
Core Molding Technologies

A-Score: 5.2/10

Value: 7.2

Growth: 5.9

Quality: 5.3

Yield: 0.0

Momentum: 7.0

Volatility: 5.7

1-Year Total Return ->

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Stock-Card
Kronos Worldwide

A-Score: 5.0/10

Value: 9.1

Growth: 2.7

Quality: 5.0

Yield: 9.0

Momentum: 0.0

Volatility: 4.3

1-Year Total Return ->

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Stock-Card
NTIC

A-Score: 4.3/10

Value: 6.8

Growth: 5.8

Quality: 5.2

Yield: 3.0

Momentum: 0.5

Volatility: 4.3

1-Year Total Return ->

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Stock-Card
Koppers

A-Score: 3.8/10

Value: 6.7

Growth: 4.8

Quality: 2.7

Yield: 1.0

Momentum: 2.0

Volatility: 5.7

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

18.73$

Current Price

18.73$

Potential

-0.00%

Expected Cash-Flows